GM Takes $2 Billion Stake in Nikola and Partners on Pickup Model

Bloomberg
Bloomberg
Sep 8 · 4 min read

By David Welch and Edward Ludwig

General Motors Co. took a $2 billion equity stake in startup Nikola Corp., agreeing to manufacture its Badger electric-pickup model and diversifying the Detroit-based automaker’s alternate-fuel vehicle strategy.

GM will make in-kind contributions to take an 11% stake in Nikola and get the right…

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